LONG TERM LEASE: The stand-alone building was constructed in 2021 and is comprised of 3,500 square feet and on a 0.49-acre lot. WellNow Urgent Care has 10 years remaining on a double net (NN) lease that has three, 5-year renewal options.
ATTRACTIVE RENT INCREASES: The lease features a 10% rental increase every five years throughout the base term and at the start of each option period providing the investor with an attractive increase in revenue and a hedge against inflation.
MINIMAL LANDLORD RESPONSIBILITIES: WellNow has a double net lease providing an ideal, low-management investment opportunity for a passive investor.
STRATEGIC RETAIL LOCATION: The WellNow is located on a primary retail corridor adjacent to the signalized intersection of East Main Street and Legion Drive. The Property is just 1.5-miles from SUNY Cobleskill and is surrounded by national retailers driving traffic to the area including Price Chopper, CVS, Tractor Supply, AutoZone, Advance Auto Parts, McDonald’s, Dunkin’, Burger King, Taco Bell, and Arby’s. The Property is in Cobleskill, a suburban town located approximately 25-miles west of Albany, and just a few miles from Interstate 88.
Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information.
